Real Estate Opportunities - How to Get Cash at Closing
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Several marketing gurus proclaim that real estate is the best way to earn quick wealth with little or no investment. There are more than a dozen courses and commercials that claim to teach you how to make money at the time of closing the deal to buy a piece of property.
You can get cash at closing only if you get the property at a lower amount than its actual value. This is next to impossible, as the seller must be in a crisis to sell his property at a lower price. Again you are not the only one pursuing this dream to quick riches, the competition is immense and you have to struggle a lot before you close your first deal.
You may make just a few deals in a couple of years, so this cannot be your primary source of income. Another thing the commercials leave out is that you must arrange to pay for the real estate before you get your share of the profit.
To get cash at closing try to find properties where the owner is willing has home equity and is therefore willing to give you the property at a lower price. Else, you can locate sellers who are keen to dispose of their existing property as they have already invested in a new property. However, this is not easy and you may need the help of a realtor to locate such properties.
Since you are contacting people in need, try to be professional, as it seems rather insensitive to take advantage of their distress. You must be patient and be a good negotiator to drive down the price of a property, if you ant to get cash at closing. You can try to get a discount on the closing price if the property needs some renovation, do the repair work yourself later.
You may offer some cash back to the seller or offer to repay his mortgage for a lower selling price. Thus to get cash at closing you needs to be an expert bargainer and have a lot of perseverance when closing a deal.
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